Royal Gold Provides Update on its Fiscal 2019 Fourth Quarter
July 09 2019 - 9:00AM
Business Wire
Royal Gold, Inc. (NASDAQ: RGLD) (together with its
subsidiaries, “Royal Gold” or the “Company”) today announced that
its wholly owned subsidiary, RGLD Gold AG, sold approximately
70,000 gold equivalent ounces comprised of approximately 57,000
gold ounces, 589,000 silver ounces and 1,100 tonnes of copper
related to its streaming agreements during its fiscal 2019 fourth
quarter ended June 30, 2019 (“fourth quarter”). The Company had
approximately 32,000 gold equivalent ounces in inventory at the end
of the fourth quarter consisting of 25,000 gold ounces, 512,000
silver ounces and 400 tonnes of copper.
RGLD Gold AG’s average realized gold, silver and copper prices
for the fourth quarter were $1,293 per ounce, $14.88 per ounce, and
$6,287 per tonne ($2.85 per pound), respectively, compared to
$1,303, $15.51, and $6,051 ($2.74 per pound), respectively, in the
third quarter ended March 31, 2019 (“third quarter”). Cost of sales
was approximately $342 per gold equivalent ounce for the fourth
quarter using the quarterly average silver-gold ratio of
approximately 88 to 1 and copper-gold ratio of approximately 0.21
tonnes per ounce, compared to $319 per gold equivalent ounce in the
third quarter. Cost of sales is specific to our stream agreements
and is the result of the Company’s purchase of gold, silver or
copper for cash payments at a set contractual price, or a
percentage of the prevailing market price of gold, silver or copper
when purchased.
Conference Call
Royal Gold’s fourth quarter and fiscal year 2019 results will be
released after the market close on Wednesday, August 7, 2019,
followed by a conference call the next day at noon Eastern Time
(10:00 a.m. Mountain Time). The call will be webcast and archived
on the Company’s website for a limited time.
Fiscal 2019 fourth quarter and fiscal year earnings call
information:
Dial-In Numbers:
855-209-8260 (U.S.); toll free
855-669-9657 (Canada); toll free
412-542-4106 (International)
Conference Title:
Royal Gold
Webcast URL:
www.royalgold.com under Investors, Events
& Presentations
About Royal Gold
Royal Gold is a precious metals stream and royalty company
engaged in the acquisition and management of precious metal
streams, royalties, and similar production-based interests. At June
30, 2019, the Company owns interests on 186 properties on five
continents, including interests on 41 producing mines and 15
development stage projects. Royal Gold is publicly traded on the
Nasdaq Global Select Market under the symbol “RGLD.” The Company’s
website is located at www.royalgold.com.
Cautionary “Safe Harbor” Statement Under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical matters, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking
statements include: statements about preliminary sales, inventory,
average realized metal prices per ounce and per tonne, cost of
sales per gold equivalent ounce, and the quarterly average
silver-gold ratio. Factors that could cause actual results to
differ materially from projections and estimates include, among
others, precious metals, copper and nickel prices; production from
the Company's stream and royalty properties; errors or disputes in
calculating or accounting for stream and royalty deliveries and
payments, or deliveries and payments not made in accordance with
stream and royalty agreements; counterparty failure to perform
under contracts for sales of metal; economic and market conditions;
and other subsequent events; as well as other factors described in
the Company's Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and other filings with the Securities and Exchange
Commission. Most of these factors are beyond the Company’s ability
to predict or control. The Company disclaims any obligation to
update any forward-looking statement made herein. Readers are
cautioned not to put undue reliance on forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190709005131/en/
Alistair Baker Director, Business Development (720) 554-6995
Royal Gold (NASDAQ:RGLD)
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